Impact of Globalisation

Topics: Developing country, Developed country, Country classifications Pages: 3 (924 words) Published: November 14, 2013
The Impact of Globalisation
Globalisation is the growth of a business/country by expanding around the world. Globalisation affects everyone in a broader sense; however when discussing globalisation it is usually in regard to either developed countries (which are countries with a highly developed economy, have a high amount of GDP per capita, have advanced technological infrastructure and a high HDI.) or developing/third-world countries (which are countries with a lower living standard, underdeveloped infrastructure and low GDP per capita.)

Globalisation has its advantages and disadvantages to businesses/countries and its people living in both developing and developed countries. Globalisation creates jobs, forces competition in companies and increases global economic growth. Job creation is important especially in developing countries; it brings in foreign technology and ideas. When a third-world country is introduced with the culture and the standards of developed countries it improves their work and living conditions over time. It brings in new technology, equipment and infrastructure to help assist in the creation or gathering of goods. It also brings in new sources of revenue as well as giving people opportunity to earn money. All this allows the country/businesses and its people to improve their infrastructure, technology, health, living standards, finances and economy. Globalisation creates competition and a worldwide market where people can access products from around the globe. When a business/country is able to cut costs in one area; they can improve their goods or lower the price, thus winning competition and ultimately benefiting consumers. With this consumers feel comfortable with spending, creating more revenue and thus providing more jobs both in developed and developing countries. This in turn assists in the improvement of the country’s economy. Globalisation assists in the handling of politics and relations with other countries. Better...
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